Private Health System News

When we're young we're kept occupied by university, career, relationships and everything else involved with the transition into adult life. Understandably, private health insurance in Australia often isn't a blip on our radars - but it should be.

Countless Australians don't concern themselves with private health insurance until they wish they had it. That may be because most believe that Medicare and the public system covers them for ambulance and emergency services as well as specialist care, according to a recent Pureprofile study.

There's no doubt health insurance premiums are a necessary cost for millions of Australians. In fact, a total of 13.5 million people have health insurance in our country, according to the most recent statistics provided by the Australian Prudential Regulation Authority (APRA).

That's why it's such exciting news that a new initiative by the Government could put downward pressure on premium increases in 2017 and beyond. We've had a closer look.

Those with private health insurance are being bumped up elective surgery lists in public hospitals, ahead of publicly funded patients, a new report from the Australian Institute of Health and Welfare (AIHW) shows.

The report also details a number of trends that suggest having a private health insurance policy means better, quicker healthcare - even in public facilities. What does this mean for the average Australian?

Healthcare affordability should be near the top of any government's priorities. Yet for so long federal budgets haven't focused enough on health insurance and other essentials that bring the cost of care down for everyday Australians.

You might have a suitable health insurance policy, but are you going to be able to pay the increased premium rates come April 1? Depending on your insurer, your premiums will rise by different amounts, but there is a way to avoid having to pay increased rates.

Have you recently looked at the industry weighted premium increases due to commence on April 1 and thought "my health insurance is costing far more than I can afford"? When comparing your health insurance to another, you need to be careful about the conclusions you make.

Australia's two largest hospital operators want to remove the private health insurance sector, and allow consumers to establish medical savings accounts, according to an Australian Financial Review article from October 2016. The medical savings accounts would empower people to deal directly with private hospitals, and Ramsay Health Care and Healthscope are leading the charge for the initiative.

Have you ever had a negative experience with a private health insurer? Based on the number of complaints that the Private Health Insurance Ombudsman received in 2014-15 (4,265), you may well have been angered because of something that your insurer did. If you're looking to change insurer, comparing the most appropriate plans for you could be a challenge without the help of the specialist brokers at HICA.

Have you recently had to change the level of cover in your private health insurance plan, simply because the premiums were becoming too expensive? You're not alone. As premiums are rising, and people are trying to avoid government surcharges for not having appropriate health cover, they're reducing their plans to almost useless levels, according to an article in The Guardian on November 18.